FM Qureshi Woos American Firms to Invest in Pakistan

Posted on Posted inPakistan

SEP 26, 2018: Foreign Minister Shah Mahmood Qureshi addressed leading U.S corporations and investment firms at the Atlantic Council Think Tank in New York on Tuesday.

The FM outlined PM Imran Khan’s vision of proactively working for peace in South Asia. Peace will induce internal stability to attract investment, the FM said at the gathering.

The event was attended by senior leadership of major US companies such as Boeing, Procter and Gamble, GE, Uber, Motorola as well as a number of major global investment funds that collectively manage US$ 2,500 billion in capital.

Qureshi thanked Mr.Sigve Brekke, CEO of Telenor — who also attended the event, for traveling all the way from Norway to personally endorse Pakistan’s rich economic potential. The FM also thanked Mr.Fred Kempe, President of the Atlantic Council,for hosting the event.

PM Khan’s government and Trump Administration seek to reset Pak-US relations for achieving durable peace in the region and at the same time maintain a robust business and people-to-people connectivity between the two countries.

Earlier this year, in a major development, Exxon Mobil purchased a block of Pakistani deep sea drilling rights off the Indus delta for exploration. The Agreement was signed at the Prime Minister’s Secretariat in Islamabad in May.

And in July, Pakistan bought some Liquefied Natural Gas(LNG) from the US, which is projected to become the third-largest LNG exporter in the world, surpassing Malaysia.

Speaking to Bloomberg TV, the Pakistani envoy said Pakistan hopes some large American companies will enter the country mainly in the oil and gas sector which will result in growing trade and commercial ties between the two nations.

Earlier on Monday, the FM met President World Bank Jim Yong Kim. They discussed issues of mutual interest. The Foreign Minister briefed Mr. Kim on Pakistan’s position on the Indus Water Treaty.

A day earlier (Sept 23), Foreign Minister Qureshi held media briefing at the Embassy of Pakistan in Washington DC.